Regus Says It Made Rival Offer for MWB Business Exchange

May 27 (Bloomberg) -- Regus Plc, the world’s largest
operator of serviced offices, said it offered to buy MWB
Business Exchange Plc for about 60 million pounds ($99 million)
after the target company recommended shareholders accept a rival
offer.

Regus was prompted to disclose the bid today after MBE
mentioned it in a statement urging shareholders to accept an
offer by MWB Group Holdings Plc, a U.K. company that manages
hotels, offices and retail stores, for the 28 percent of the
company it doesn’t already own.

In a statement today, Regus said its offer is “far
superior” to MWB’s and the company doesn’t accept that the cash
bid “fails to recognize the underlying fundamental value of MBE
in the medium to long term.”

MWB shares rose 13 percent to 56 pence, the most since
March 2010. MBE gained 52 percent to 74.5 pence, valuing the
company at 48.7 million pounds, less than the Regus offer.